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The Texas Rangers have reached a 10-year deal with Globe Life and Accident Insurance Company to name the home of the Texas Rangers Globe Life Park in Arlington. (Published Wednesday, Feb 5, 2014)

Updated at 6:16 PM CST on Wednesday, Feb 5, 2014

The home of the Texas Rangers has a new name — Globe Life Park in Arlington.

Team officials announced details of the deal at a Wednesday morning news conference, announcing Globe Life will take over naming rights for the 20-year-old ballpark.

Rangers Ballpark Gets a New Name

The home of the Texas Rangers has a new name — Globe Life Park in Arlington.
(Published Wednesday, Feb 5, 2014)

In a news release, Globe Life and Accident Insurance Company was said to be based out of McKinney, however their website said the company was based in Oklahoma City, Okla.

"Globe Life is the perfect partner — a Texas-based company that has been helping families with their insurance needs for more than 60 years," Rangers Co-Chairmen Ray Davis and Bob Simpson said in a news release.

Globe Life Buys Naming Rights to Rangers Ballpark

The Rangers said the agreement with Globe Life will last for 10-years and include the company making "a substantial commitment to support youth baseball and softball programs" with the Texas Rangers.

The Rangers sold the naming rights to the ballpark once before, in 2004, to Ameriquest Mortgage Co. and renamed The Ballpark in Arlington to Ameriquest Field. Ameriquest relinquished those rights when it closed and, in 2007, the park was renamed Rangers Ballpark in Arlington.